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Tax collection in Vietnam grew 17.2 percent

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Tax collection in Vietnam grew 17.2 percent

Hanoi, Aug 4 (Prensa Latina) Tax collection in Vietnam achieved a year-on-year growth of 17.2 percent between January and last July, totaling 38.76 billion dollars, according to reports released by the General Department of Taxation.
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The increase is the result of the good pace of growth of the economy during said period, the fact of keeping the Covid-19 pandemic under control and the process of recovery of productive and business activity.

On the other hand, State revenues increased owing to the strengthening of auditing to prevent tax losses and evasion, as well as efforts to reduce the tax debt rate.

According to the Department, the fiscal sector continued to implement policies to support individuals and companies to develop production and business in the post-pandemic period, such as the reduction of the environmental protection tax on diesel, jet fuel, and gasoline (except ethanol).

It was also announced that Vietnam expects to obtain around 45.7 billion dollars from textile exports this year, according to the criteria of experts quoted by the VNA news agency.

The projections are based on the positive results of this sector until July 15th, when sales abroad reached a record figure of 20.4 billion dollars, representing a 19.7 percent increase compared to the same period in 2021.

This contributed significantly to bringing the country’s total commodity export turnover to a year-on-year increase of 17.3 percent, the source added, referring to statistics from the General Department of Vietnam Customs.

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